Thailand's new PM Paetongtarn to outline policies to parliament

12/9/2024 12:22

        Thailand's Prime Minister Paetongtarn Shinawatra will on Thursday deliver her government's policy proposal to parliament, headlined by plans to give away 450 billion baht ($13.4 billion) in handouts to jumpstart growth.
        
        Political newcomer Paetongtarn's cabinet was sworn in earlier this month after she won the backing of parliament to become Thailand's youngest premier following the shock removal of predecessor Srettha Thavisin by a court decision. The polices largely continue ally Srettha's agenda and that of their populist Pheu Thai party, including debt restructuring and legalising casinos to draw in investment and more tourists. The government is expected to give details of its signature plan for its 'digital wallet' handout of 10,000 baht ($300) to 50 million people, some of which Paetongtarn now says will be given in cash.
        
        The scheme has been criticised by economists and former central bank governors as fiscally irresponsible, which the government rejects. It has struggled to find sources of funding. It insists the policy is necessary to energise the economy, which the central bank expects to grow just 2.6% this year, up from 1.9% in 2023 but far adrift of most regional peers.